Weidan International (02317) announced results for the year ended December 31, 2023, with revenue of US$386 million...
According to the Zhitong Finance App, Weidan International (02317) announced results for the year ended December 31, 2023, with revenue of US$386 million, a year-on-year decrease of 14.4%; profit attributable to shareholders of US$6.986 million, turning a year-on-year loss into profit; basic profit of 0.46 US cents per share; and proposed a final dividend of 0.2298 US cents per share.
According to the announcement, the main reason for the decline in revenue was due to the slowdown in various market conditions and market demand, and the revenue of the Group's main product, monosodium glutamate, was affected, but benefiting from the slowdown in raw materials and energy prices, the group seized the opportunity of falling prices of bulk raw materials, which increased gross margin during the year compared to last year.